Bancorp (NASDAQ:TBBK) Director Acquires $45,540.00 in Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn bought 1,000 shares of the stock in a transaction on Tuesday, November 3rd. The shares were bought at an average price of $45.54 per share, for a total transaction of $45,540.00. Following the completion of the transaction, the director directly owned 63,111 shares of the company’s stock, valued at $2,874,074.94. This trade represents a 1.61% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bancorp Stock Up 1.1%

Bancorp stock opened at $48.25 on Friday. The company’s 50-day moving average price is $51.68 and its two-hundred day moving average price is $58.04. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a 52 week low of $45.08 and a 52 week high of $73.02. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 8.23 and a beta of 1.20.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, October 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.47. Bancorp had a net margin of 30.13% and a return on equity of 34.29%. The business had revenue of $135.89 million for the quarter, compared to the consensus estimate of $154.86 million. On average, analysts expect that The Bancorp, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TBBK shares. Raymond James Financial restated an “outperform” rating and issued a $57.00 price target on shares of Bancorp in a research report on Tuesday. Stephens reaffirmed an “equal weight” rating and set a $59.00 price target on shares of Bancorp in a research report on Wednesday, October 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price objective (down from $86.00) on shares of Bancorp in a research report on Thursday, September 17th. Bank of America reissued a “buy” rating on shares of Bancorp in a report on Monday, July 20th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $79.00 price target (up from $77.00) on shares of Bancorp in a report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $63.88.

Institutional Investors Weigh In On Bancorp

Several hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in Bancorp by 19.0% during the first quarter. Janus Henderson Group PLC now owns 1,084,992 shares of the bank’s stock worth $58,296,000 after acquiring an additional 172,925 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Bancorp by 104.5% during the first quarter. Bank of America Corp DE now owns 426,613 shares of the bank’s stock valued at $22,922,000 after purchasing an additional 218,038 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Bancorp by 8.3% during the 1st quarter. Principal Financial Group Inc. now owns 352,786 shares of the bank’s stock valued at $18,955,000 after acquiring an additional 27,058 shares in the last quarter. Congress Asset Management Co. raised its holdings in Bancorp by 21.3% in the 3rd quarter. Congress Asset Management Co. now owns 347,585 shares of the bank’s stock valued at $16,740,000 after acquiring an additional 61,054 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Bancorp in the first quarter valued at approximately $15,063,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ:TBBK) is a financial technology-focused bank holding company headquartered in Wilmington, Delaware. Through its principal subsidiary, The Bancorp Bank, N.A., the company provides banking and payment services primarily through partnerships with fintech companies, businesses, and other institutional clients rather than through a traditional branch network.

The company’s services include payment processing, prepaid and debit card programs, card issuance, automated clearing house (ACH) and other electronic payment solutions, deposit accounts, and commercial lending.